The Oklahoma State Treasurer Todd Russ announced a successful outcome in its shareholder engagement with The Boeing Company, marking a major win for fiduciary responsibility and collaborative corporate governance on behalf of Oklahomans’ investments.
The Treasurer’s Office, through the Tobacco Settlement Endowment Trust (TSET), had considered filing a shareholder proposal aimed at improving Boeing’s compliance and transparency regarding President Trump’s executive order against DEI or diversity, equity, and inclusion practices in regard to federal contracting rules. Instead of immediately filing, the Treasurer’s team opted for a professional, good-faith dialogue with Boeing’s leadership, a decision that achieved meaningful progress without the need for formal escalation.
After meeting with Boeing’s Secretary to the Board and General Counsel, the Treasurer confirmed significant clarifications and policy changes by the company, including:
Boeing does not incorporate DEI metrics into its executive compensation.
Boeing does not use racial or gender quotas in any part of its business.
Boeing does not actively participate in the Human Rights Campaign’s Corporate Equality Index, as of 2025.
Boeing has suspended its Business Resource Groups and is reviewing its strategy of institutionalizing such business groups.
These commitments, verified through Boeing’s official proxy statements and direct correspondence with the company’s general counsel, confirm that Boeing maintains a merit-based, nondiscriminatory approach to hiring, advancement, and compensation. As the company stated in its 2024 proxy statement, “Boeing strictly prohibits discriminatory hiring practices and maintains a merit-based performance system with procedures aimed at encouraging an equality of opportunity, not of outcomes.” Boeing’s General Counsel also confirmed, “Our non-participation in the HRC will be apparent in January when their report comes out and before our proxy vote occurs.”
“This is a clear example of how Oklahoma can lead with both prudence and stewardship,” said State Treasurer Todd Russ. “While preparing to file a proposal, we engaged Boeing respectfully and professionally, and the result is a win-win. The company strengthened its compliance posture, and our beneficiaries are better protected from potential legal and reputational risks as well as billions in loss of dollars from federal contracts.”
The Treasurer’s Office worked closely with Bowyer Research in assessing the proposal and confirmed that the company’s progress made a formal shareholder filing unnecessary. As one of Oklahoma’s largest corporate employers, Boeing’s responsiveness underscores the value of open, good-faith communication between investors and the companies they own. The Treasurer’s Office continues to review additional shareholder engagement opportunities to ensure all state investment funds, including TSET, are managed according to the highest fiduciary and legal standards.
“This outcome reflects exactly what responsible stewardship looks like,” Treasurer Russ added. “We’re safeguarding Oklahomans’ investments, ensuring companies follow the law, and showing that collaboration often accomplishes more than confrontation.”
